$450 Rebate on $1079 hot water heater with heatpump

[cpumechanic]

Sorry to post yet another hot water heater thread... but I wanted to share that the local electric company has a $450 rebate on heatpump hot water heaters. Using 10% coupon from ebay at lowes, and buying $100 gift cards for $90 makes the deal even sweeter.

I assume that I can also claim a 30%? discount on my federal taxes.

Unit claims it will use ~$150/year in electricity which is (my estimate) a 50% or more decrease in the power used.

Replacing 15 year old 50 gallon electric version with this one also 50 gallon... AO smith unit has a good reputation when researched.

So.. my guess is I will have an approximately 2 year payoff of the price (I am installing myself).

Merry Christmas/Happy New Year... hope this helps someone else .

Regards

Cpu

[highercall]

I replaced my 7 yr old electric h/w 6 months ago with a Rheems heatpump w/h purchased at Home Depot because that's what my friend had. I'm sure either one would be fine. They also give a 10% military discount if someone in your family is or has been in the service. I have plenty of hot water and it has lowered electric bill. Would encourage anyone to do it. I also did the install myself. You do need a drain or somehow to be able to discharge the water that the unit makes as a by product from the moisture in the air.

[iamlucky13]

Heat pump water heaters are reaching the point where they make sense in many areas even if you don't have a subsidy available to you.

Be aware though, that they cool the air in the room they are in, and in cooler climates, you will need to make up for the heat they consume in the winter, which will offset the savings somewhat, but probably nowhere near enough to stop them from being worthwhile.

[brajalle]

We've been happy with ours - got a similar price/overall deal via Sears on their Kenmore unit about a year ago. I believe the GE, Rheems, and Kenmore are all manufactured by the same company. The smart module isn't too bad, supposedly will notify us of leaks when we're not home for example.

The cooling, in our case, is a nice side benefit, because our cooling costs far outweigh our heating.

[AlwaysBeClimbing]

OP, Thanks for the heads-up, just ordered an A.O. Smith unit from Lowes. My state offers a $600 tax credit while my utility pitches in with a $400 rebate, and after a 10% veterans discount my out of pocket costs( self install) are virtually zero. Doubtful this unit will last as long as the 30 year old one it's replacing but if I just get the warranty period (10 years ), I'll be a happy camper.

[AllMostThere]

Sorry to post yet another hot water heater thread... but I wanted to share that the local electric company has a $450 rebate on heatpump hot water heaters. Using 10% coupon from ebay at lowes, and buying $100 gift cards for $90 makes the deal even sweeter.

I assume that I can also claim a 30%? discount on my federal taxes.

Unit claims it will use ~$150/year in electricity which is (my estimate) a 50% or more decrease in the power used.

Replacing 15 year old 50 gallon electric version with this one also 50 gallon... AO smith unit has a good reputation when researched.

So.. my guess is I will have an approximately 2 year payoff of the price (I am installing myself).

Merry Christmas/Happy New Year... hope this helps someone else .

Regards

Cpu

I too purchase Lowe's products using same methodology (discount gift cards, promo codes, etc.). One thing you may be missing is to also use one of the cash back sites that offer anywhere between 1.5% - 4%. I too just purchased a HW Heater from Lowe's (Direct Vent model as direct replacement for 17 yr old model) and used TopCashBack and received an additional 4% ~+$30 back by ordering on-line and store pickup. I also try to align my purchases with when Lowe's also offers 11% rebate which usually occur shortly after Menard's offers the same. This Lowe's 11% rebate is only in certain markets that compete with Menard's. I always use store pickup for all my Lowe's needs to allow usage of promo codes and cash back shopping. Money always looks best in my pocket than retailer.

[cpumechanic]

Hello

Thanks for the topcashback idea.. they provide a 4% cash back for lowes online purchase's at this time. I got 5% on my Chase Ink card since I bought the gift cards at Staples when they were on sale last week, but I missed that added 4%.. I agree.. using the system to minimize cost's allows me to spend my hard earned cash as I see fit.. and typing a few extra characters on one more WWW site is cake.

I checked ebates and they only have 1% on Lowe's at this time.

Glad others have been able to take advantage of this and we can all lay claim to being "green" with items like this.



Unit is running in basement extracting heat from the warm air created by my wood stove, and wife/son happy with hot water.

Regards


CPU